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Note 15 - Revenue

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 15: REVENUE

Disaggregation of Revenue

The following tables present revenue disaggregated by major product, portfolio summary and geography.

Major product:

		Year Ended
		December 31, 2022
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Plates, inks and other consumables		$	589			$	63			$	26			$	—			$	—			$	678
Ongoing service arrangements (1)			75				130				14				—				—				219
Total Annuities			664				193				40				—				—				897
Equipment & Software			47				34				—				—				—				81
Film and chemicals			—				—				192				—				—				192
Other (2)			—				—				2				17				16				35
Total		$	711			$	227			$	234			$	17			$	16			$	1,205

		Year Ended
		December 31, 2021
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Plates, inks and other consumables		$	530			$	69			$	24			$	—			$	—			$	623
Ongoing service arrangements (1)			79				134				6				—				—				219
Total Annuities			609				203				30				—				—				842
Equipment & Software			50				46				—				—				—				96
Film and chemicals			—				—				180				—				—				180
Other (2)			—				—				2				15				15				32
Total		$	659			$	249			$	212			$	15			$	15			$	1,150

		Year Ended
		December 31, 2020
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Plates, inks and other consumables		$	463			$	64			$	21			$	—			$	—			$	548
Ongoing service arrangements (1)			80				131				3				—				—				214
Total Annuities			543				195				24				—				—				762
Equipment & Software			49				46				—				—				—				95
Film and chemicals			—				—				137				—				—				137
Other (2)			—				—				11				13				11				35
Total		$	592			$	241			$	172			$	13			$	11			$	1,029

⁽¹⁾ Service revenue in the Consolidated Statement of Operations includes the ongoing service revenue shown above as well as revenue from project-based document management and managed print services businesses, which is included in Other above.

⁽²⁾ Other includes revenue from professional services, non-recurring engineering services, print and managed media services, tenant rent and related property management services and licensing.

Product Portfolio Summary:

		Year Ended
		December 31, 2022
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Growth engines (1)		$	266			$	129			$	2			$	—			$	—			$	397
Strategic other businesses (2)			445				55				232				17				16				765
Planned declining businesses (3)			—				43				—				—				—				43
		$	711			$	227			$	234			$	17			$	16			$	1,205

		Year Ended
		December 31, 2021
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Growth engines (1)		$	217			$	142			$	—			$	—			$	—			$	359
Strategic other businesses (2)			442				58				211				15				15				741
Planned declining businesses (3)			—				49				1				—				—				50
		$	659			$	249			$	212			$	15			$	15			$	1,150

		Year Ended
		December 31, 2020
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
Growth engines (1)		$	162			$	135			$	3			$	—			$	—			$	300
Strategic other businesses (2)			430				52				159				13				11				665
Planned declining businesses (3)			—				54				10				—				—				64
		$	592			$	241			$	172			$	13			$	11			$	1,029

⁽¹⁾ Growth engines consist of Sonora in the Traditional Printing segment, PROSPER and Software in the Digital Printing segment and Advanced Materials and Functional Printing in the Advanced Materials and Chemicals segment, excluding intellectual property (IP) licensing.

⁽²⁾ Strategic other businesses include plates and CTP equipment and related service in the Traditional Printing segment; brand licensing; Nexpress and related toner business in the Digital Printing segment; and Motion Picture and Industrial Film and Chemicals (including external inks) and IP licensing in the Advanced Materials and Chemicals segment.

⁽³⁾ Planned declining businesses are product lines where the decision has been made to stop new product development and manage an orderly expected decline in the installed product and annuity base or are otherwise not strategic to Kodak. These product families consist of Consumer Inkjet, Kodak Services for Business (“KSB”) and Kodakit in the Advanced Materials and Chemicals segment and Versamark and Digimaster in the Digital Printing segment.

Geography ⁽¹⁾:

		Year Ended
		December 31, 2022
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
United States		$	167			$	109			$	177			$	17			$	16			$	486
Canada			12				8				2				—				—				22
North America			179				117				179				17				16				508
Europe, Middle East and Africa			336				74				19				—				—				429
Asia Pacific			166				33				35				—				—				234
Latin America			30				3				1				—				—				34
Total Sales		$	711			$	227			$	234			$	17			$	16			$	1,205

		Year Ended
		December 31, 2021
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
United States		$	135			$	109			$	152			$	15			$	15			$	426
Canada			12				8				2				—				—				22
North America			147				117				154				15				15				448
Europe, Middle East and Africa			302				85				17				—				—				404
Asia Pacific			181				43				41				—				—				265
Latin America			29				4				—				—				—				33
Total Sales		$	659			$	249			$	212			$	15			$	15			$	1,150

		Year Ended
		December 31, 2020
										Advanced
		Traditional				Digital				Materials and
		Printing				Printing				Chemicals				Brand				Other				Total
United States		$	121			$	106			$	115			$	13			$	11			$	366
Canada			14				8				1				—				—				23
North America			135				114				116				13				11				389
Europe, Middle East and Africa			257				86				12				—				—				355
Asia Pacific			171				37				43				—				—				251
Latin America			29				4				1				—				—				34
Total Sales		$	592			$	241			$	172			$	13			$	11			$	1,029

⁽¹⁾ Sales are reported in the geographic area in which they originate. No non-U.S. country generated more than 10% of net sales in the years ended December 31, 2022, 2021 and 2020.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amounts recorded for contract assets are reported in Other current assets in the Consolidated Statement of Financial Position. The contract liabilities primarily relate to prepaid service contracts, upfront payments for certain equipment purchases or prepaid royalties on intellectual property arrangements. The amounts recorded for contract liabilities are reported in Other current liabilities and Other long-term liabilities in the Consolidated Statement of Financial Position. Contract assets and liabilities consisted of the following:

		As of December 31,
(in millions)		2022				2021
Contract assets		$	1			$	3
Contract liabilities - current			40				43
Contract liabilities - long-term			11				14
Total		$	51			$	57

Activity in deferred revenue accounts consisted of:

		Year Ended December 31,
(in millions)		2022				2021				2020
Beginning liabilities recognized in revenue		$	38			$	37			$	43
Cash payments received, net of revenue recognized			30				28				41

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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